Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Suture anchor devices are widely used in orthopedic surgeries. An orthopedic injury may occur due to acute trauma or repetitive motion of the body. Sports and heavy physical activities are the major reasons for bone fractures and injuries. Increasing number of sports injuries needing orthopedic intervention such as rotator cuff surgery, torn ligament repairs, removal of loose bones or cartilages, etc., are promoting to drive the growth of the suture anchor devices market. Suture anchors are the primary choice of fixation in arthroscopic repairs. When compared with bone tunnels, suture anchors behave favorably in rotator cuff repairs. As anchors are a popular implant used to reattach soft tissues to bone or anchor suture material to bone the Suture anchor devices market is expected to grow at fast pace in the forecast period.
Osteoporosis disease frequency and resultant fracture is increasing among the population which will boost the growth of the suture anchor devices market. Increasing incidence of accident, including fall, over-exertion during an athletic event, or many other situations or activities in the region has led the rising demand suture anchor devices market. Also the increasing number of sports injuries has become a major concern for athletes. Moreover the benefits of suture anchor devices among healthcare professionals and increase in orthopedic surgery as a result of technological developments in healthcare sector and incorporation of emerging technologies are boosting the demand for suture anchor market in United States for the forecast period.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the United States suture anchor devices market. In addition, complete analysis of changes on the United States suture anchor devices market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on United States economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Due to the emergence of COVID-19 the United States suture anchor devices had a negative impact. Due to imposed lockdowns many procedures were postponed to prevent the spread of the virus.
The suture anchor devices market comprises of different market segment like product type, material type, tying type, end user.
The suture anchor devices are available in market according different product type such as absorbable, non-absorbable. Absorbable suture anchor will result in the degradation of absorbable sutures. Biologically obtained sutures, such as the surgical gut, are gradually digested by tissue enzymes. Due to increasing technological improvements in the absorbable sutures they are widely used and are most preferred by the surgeons. Non-absorbable sutures are made of materials which are not metabolized by the body and therefore they are used either on skin wound closure, where the sutures can be removed after a particular duration. If the non-absorbable are not removed after a particular period they may lead to chronic sepsis.
The suture anchor devices are available in the market according to different material type like metallic suture, bio-absorbable suture, peek suture, bio-composite suture. The bio- composite suture has the ability to support bone formation and also they offer excellent visibility of implants during surgeries also the bio-absorbable material that are used for closing wounds and later are dissolved in the body by body fluids. The peek suture anchor is an implantable device used for soft tissue re-fixation of the acetabular or glenoid labrum to bone. Metal suture anchors provide long term fixation but are often associated with well documented complications.
The suture anchor devices have different typing type available in the market such as knotless suture anchor, knotted suture anchor. Dislocation of the shoulder is a common occurrence among athletes which may result into permanent damage if not treated on time. The knotless tissue anchor has been widely used to cater the enhanced volume of arthroscopic procedures. Surgeons can find knot tying challenging, and knots are known to be the vulnerable point in tissue repairs. Whereas knotted suture anchors provide the highest attachment strength possible for a wide variety of applications making technically demanding shoulder procedures simpler, safer, and more reproducible and is expected to increase the demand for market in the United States.
The suture anchor devices market finds its major end user in hospitals, emergency medical services, clinics, ambulatory surgical centers. The ambulatory surgical centers are assumed to grow at fast pace in the forecast period. Due to the increasing geriatric population in the country and due to the occurrence of events such as fall, over-exertion, athletic event, several types of the accident or many other situations or activities tissue detachment may also occur. In such cases, surgery is required to re-attach the soft tissue to its associated bone. Suture anchors are increasingly being used in such incidents thus, the suture anchors market is expected to grow in the forecast future.
The key players in suture anchor devices market are Smith & Nephew plc., Zimmer Biomet Holdings, Inc., ConMed Corporation, Arthrex, Inc., Johnson and Johnson (DePuy Synthes, Inc.), Medtronic plc, Stryker Corporation, Parcus Medical, LLC., Wright Medical Group N.V., Teknimed SA, MedShape, Inc., South America Implants S.A., Anstem Medical, Groupe Lepine S.A., In2Bones SAS, Tulpar Medical Solutions, Neosys Surgical Solutions LTD, Biocomposites Ltd, HNM Medical and Surgical Frontiers among others.
March 2021: One of the leading companies in the suture anchor devices market, Smith+Nephew, announced a marketing collaboration with Movendo Technology (Genoa, Italy) that is believed to add personalized robotic rehabilitation capability to the company’s technological solutions. This collaboration is projected to create a fully digitized pathway for the patients from the very first to last stage.
November 2018: Stryker Corporation acquired K2M Group Holdings, Inc. The acquisition allowed the company to gain access to K2M’s flagship technologies for various orthopedic surgeries including ligament and tendons surgeries, As a result of this acquisition, Stryker Corporation now has technological advantage over its rivals in global suture anchors market.
October 2018: Zimmer Biomet collaborated with technology giant Apple, Inc. to launch a major clinical study on patients undergone two of the most common surgeries prevalent in U.S. today –hip and knee replacement. As result of this collaboration, Zimmer Biomet shall monitor the progress of the patients through Apple Watch and iPhone, and an app specifically designed interface the data for the two organizations. With the results of this study, Zimmer Biomet can understand how patients are responding to the surgeries that use sutures and anchors developed by the company.
The report analyses the suture anchor devices market based on by product type, material type, tying type, end user. The suture anchor devices are available in market according different product type such as absorbable, non-absorbable. Absorbable suture anchor will result in the degradation of absorbable sutures. Biologically obtained sutures, such as the surgical gut, are gradually digested by tissue enzymes. The suture anchor devices are available in the market according to different material type like metallic suture, bio-absorbable suture, peek suture, bio-composite suture. The bio- composite suture has the ability to support bone formation and also they offer excellent visibility of implants during surgeries. The suture anchor devices have different typing type available in the market such as knotless suture anchor, knotted suture anchor. Dislocation of the shoulder is a common occurrence among athletes which may result into permanent damage if not treated on time. The knotless tissue anchor has been widely used to cater the enhanced volume of arthroscopic procedures. The suture anchor devices market finds its major end user in hospitals, emergency medical services, clinics, ambulatory surgical centers. The ambulatory surgical centers are assumed to grow at fast pace in the forecast period. Due to the increasing geriatric population in the country and due to the occurrence of events such as fall, over-exertion, athletic event, several types of the accident or many other situations or activities tissue detachment may also occur.
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